sebi:Order/AP/VS/2020-21/9535
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Facts / Headnote
Disposed of as not maintainable - no penalty imposed
Provisions invoked
- s. 15A
- s. 15
- s. 15I
- s. 11C(3)
- s. 33(5)
- s. 33
- s. 34(1)
- s. 33(6)
- s. 52
- s. 53
Regulations
- Reg. 7(2)(b)
Parties
- Oasis Tradelink Limited
Holding
The adjudication proceedings against Oasis Tradelink Limited for alleged violations of Regulation 7(2)(b) of the PIT Regulations and Section 11C(3) of the SEBI Act were held to be not maintainable and were disposed of without any finding on merits or penalty.
Full text
_____________________________________________________________________________ Adjudication Order in respect of Oasis Tradelink Limited in the matter of Oasis Tradelink Limited Page 2 of 6 As per the weekly reports provided by the RTA, the details of the above transactions were available with OTL on January 22, 2018 and January 29, 2018 respectively. Since the transactions were of value more than ₹10 lakhs, OTL was under obligation to make requisite disclosures to BSE within 2 trading days under regulation 7(2)(b) of the PIT Regulations. However, the OTL did not make any disclosures to the exchange even after becoming aware of the information.
_____________________________________________________________________________ Adjudication Order in respect of Oasis Tradelink Limited in the matter of Oasis Tradelink Limited Page 3 of 6
_____________________________________________________________________________ Adjudication Order in respect of Oasis Tradelink Limited in the matter of Oasis Tradelink Limited Page 4 of 6 From the above table it is noted that the Noticee had not co-operated with the Investigations by not furnishing the acknowledgment of the disclosures by OTL and BSE to IA and thus, had disobeyed the aforesaid summons dated August 9, 2019, August 21, 2019 and September 05, 2019 issued by IA and repeatedly failed to provide the documents/ information requisitioned by the IA. Thus, it was alleged that the Noticee, has failed to furnish the information required under the SEBI Act and thereby hampered the process of investigation and leading to violation of section 11C(3) of the SEBI Act which read as follows: Investigation 11C(3) The Investigating Authority may require any intermediary or any person associated with securities market in any manner to furnish such information to, or produce such books, or registers, or other documents, or record before him or any person authorised by it in this behalf as it may consider necessary if the furnishing of such information or the production of such books, or registers, or other documents, or record is relevant or necessary for the purposes of its investigation.
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Source: SecMarx — sebi:Order/AP/VS/2020-21/9535. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.